Allstate Corp Invests $418,000 in Toast, Inc. (NYSE:TOST)

Allstate Corp bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the 4th quarter, Holdings Channel.com reports. The firm bought 11,473 shares of the company’s stock, valued at approximately $418,000.

A number of other hedge funds have also recently bought and sold shares of TOST. Geode Capital Management LLC boosted its stake in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after acquiring an additional 155,212 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after purchasing an additional 65,957 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock worth $107,108,000 after purchasing an additional 155,446 shares in the last quarter. Zacks Investment Management raised its holdings in Toast by 14.2% during the 3rd quarter. Zacks Investment Management now owns 338,017 shares of the company’s stock worth $9,569,000 after buying an additional 42,100 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after buying an additional 225,215 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Stock Performance

TOST opened at $35.77 on Thursday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The business has a 50 day moving average price of $37.48 and a 200 day moving average price of $35.66. The firm has a market cap of $17.67 billion, a P/E ratio of -3,573.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. As a group, analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,068 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the sale, the president now owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 270,770 shares of company stock valued at $9,409,211. Insiders own 13.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TOST. Oppenheimer started coverage on shares of Toast in a report on Friday, January 24th. They set an “outperform” rating and a $46.00 price target on the stock. The Goldman Sachs Group reduced their target price on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday. DA Davidson reiterated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. Canaccord Genuity Group increased their price objective on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their target price on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.38.

About Toast

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.